Hogan Lovells advises Bank11 on €500m car loan securitization

A team of Hogan Lovells, led by Frankfurt partner Sven Brandt, advised Bank11 für Privatkunden und Handel GmbH on its eleventh car loan securitization with a volume of €500 million.

Bank11 für Privatkunden und Handel GmbH is a German credit institution based in Neuss that focuses on sales and supply financing for medium-sized car dealerships.

As part of the transaction, five tranches of notes were issued. The most senior tranche was rated AAA(sf) (DBRS) and Aaa(sf) (Moody’s). Additionally, the transaction meets the high standards of an STS securitization under the EU Securitization Regulation, which has been verified by STS Verification International GmbH.

UniCredit Bank AG acted as sole arranger and lead manager. The bonds were listed on the regulated market of the Luxembourg Stock Exchange and were widely placed with institutional investors.

Team Hogan Lovells for Bank 11

Dr. Sven Brandt (partner, Head Capital Markets Germany), Sebastian Oebels (counsel), Dilek Ovic (associate); Didem Savas (project associate), Leyla Memis (business lawyer) (all capital markets, Frankfurt)

Dr. Heiko Gemmel (partner), Nico Neukam (counsel) (both Tax, Düsseldorf)

Sharon Lewis (partner), Ailsa Davies (senior associate), Joanna Veitch (associate) (all capital markets, Paris)

Ariane Mehrshahi (counsel), Valerie Laskowski (senior associate), Clara Valdes Cortes (associate) (all capital markets, Luxembourg)